In select cases, the payback on an investment will vary by class of investor. This consideration is tied to venture debt/equity and commercial/residential real estate. In venture debt and equity, take note if an investment calls for preferred stock, as owners of such equity take precedence over investors owning common stock in the case of a liquidation event. In real estate, there are varying claims on property made by an individual or organization in order to ensure payment of a debt. These claims are grouped in “liens,” so the first, or senior, lien gets paid before all other investors in a given opportunity.